Helping People Plan for the Future Through Special Needs Planning
The troubling fact is that you may lack the tools to care for a disabled or elderly family member. Special needs trusts are estate planning tools available for people to plan for the care of a loved one who needs additional financial and medical care assistance. At Blustein, Shapiro, Rich & Barone, LLP, our attorneys are available to assist you in creating comprehensive special needs plans for family members.
As one of the premier law firms in the Hudson Valley, our firm, located in Middletown, New York, is available to help you avoid guardianships by creating a special needs trust, funded with the appropriate amount of assets. Our attorneys believe that the best special needs planning occurs when an attorney takes the time to discuss the needs, concerns and objectives of clients.
Create Special Needs Plans Tailored to Work Specifically for You
Court involvement may be required if no plans are in place to care for an elderly or disabled family member who is unable to care for himself or herself. It is the goal of special needs planning to create strategies to avoid the court's role in this matter.
Here are some of the key terms in connection with special needs planning:
- Guardian: a court-appointed person who manages the affairs of a person who is unable to do so himself or herself.
- Court Evaluator: a professional (usually an attorney or accountant) with special training who is appointed by a judge to meet with a person in need of supervision and his or her family. The Court Evaluator files a report with the court with recommendations as to the appointment of a Guardian, as well as the recommended scope of duties.
- Trustee: a person named in a trust instrument to manage and distribute trust assets to beneficiaries.
The key component of any special needs plan is the creation of a trust to provide for the daily necessities of a loved one. This trust must be funded properly by assets to make it valid, and a trustee must be named to manage and control the trust.
To discuss special needs planning with an experienced lawyer, call 845-477-5735 or e-mail Blustein, Shapiro, Rich & Barone, LLP.
